Bone fixation plates are used for the fixation of implants to the bone along with other fixation devices such as screws, nails, rods, and wires. These plates are attached to the bone with the help of screws. A major function of fixation plates is to hold together the broken pieces of bones. The plates are also used for the fixation of long and short bone fractures.
The Bone Fixation Plates Market is expected to offer significant potential for growth during the forecast period. Increase in the number of fractures and accidental spinal injuries, launch of new products by market players, and rise in demand for spinal fixation devices for various spinal surgeries are expected to drive the bone fixation plates market. According to the International Osteoporosis Foundation (IOF), the global incidence of hip fractures in men is projected to increase by 310% and in women by 240% by 2050.
Osteoporosis is one of the major reasons for fractures among women, and its incidence is expected to increase in the near future. According to IOF, osteoporosis leads to more than 8.9 million fractures annually across the globe. Moreover, an increase in the number of market players offering products for bone fixation, use of titanium and stainless steel plates for bone fixation, and technological advancements are expected to create growth opportunities for the market in the coming years. In January 2017, Paragon 28 launched the Baby Gorilla Mini Plating System used in the foot and ankle for small bone fractures and reconstruction procedures.
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The global bone fixation plates market can be segmented based on fixation type, material, application, and region. In terms of fixation type, the bone fixation plates market can be classified into limbs plate fixation, craniomaxillofacial plate fixation, spinal plate fixation, and others. Based on material, the market can be divided into stainless steel, titanium, and others. The spinal fixation segment is expected to expand at a rapid growth rate during the forecast period, due an increase in demand for spinal fixation devices for various spinal disorders. In terms of application, the market can be categorized into fractures, reconstructive surgery, orthognathic surgery, and others. The fractures segment is anticipated to hold a prominent market share, due to the availability of a wide range of products in the market and increase in the number of fractures due to accidental injuries or sports.
Based on region, the global bone fixation plates market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global bone fixation plates market in 2017. Factors contributing to the growth of the bone fixation plates market in North America are presence of major players in orthopedic fixation, strategic approaches such as new product launches, geographical expansion and collaborations, and advancements in technological innovations to treat fractures and accidental injuries.
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The market in Europe is projected to expand at a rapid pace during the forecast period. Germany, the U.K., and France are projected to constitute a major share of the market in Europe. The growth of the market in the region is attributed to an increase in demand for bone fixation plates in orthopedic fixation and increase in the prevalence of osteoporotic fractures among the geriatric population, especially women. According to the IOF, Germany and Austria have a higher risk of fractures as compared to other European countries such as France, the U.K., and Spain. The market in Asia Pacific is driven by a rise in awareness about the use of orthopedic internal and external fixation devices and increase in the prevalence of osteoporosis and other orthopedic disorders.
Key players operating in the global bone fixation plates market are DePuy Synthes, Stryker, Zimmer Biomet, Smith & Nephew, Wright Medical Group N.V., Globus Medical Inc., Medtronic B.Braun Melsungen AG, NuVasive, Inc., and AAP Implantate AG.
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